New York Times: “Highlighting the strain, Standard & Poor’s downgraded Brazil’s credit rating to junk status on Wednesday, igniting a broad sell-off of Brazilian financial assets on Thursday. The blow is expected to increase Brazil’s borrowing costs while focusing even more scrutiny on the government’s inability to rein in public spending.”
The average IQ in Brazil is 87, just two points above American blacks, so of course it is going to be a basketcase.
